Trump taken to underground bunker as protests grew outside White House: Reports
SAVANNAH BEHRMANN | USA TODAY | 2 hours ago

Trump taken to underground bunker as protests grew outside White House: Reports
SAVANNAH BEHRMANN | USA TODAY | 2 hours ago

Trump taken to underground bunker as protests grew outside White House: Reports
SAVANNAH BEHRMANN | USA TODAY | 2 hours ago

The star

LOS ANGELES (AFP): Los Angeles, Philadelphia and Atlanta were among several US cities to announce curfews Saturday (May 30) in a bid to stem violent anti-police protests breaking out across America.

A nighttime curfew was also implemented in Louisville, Kentucky as the US continues to be rocked by demonstrators angry at the death of a black man during an arrest in Minneapolis on Monday.

The star

LOS ANGELES (AFP): Los Angeles, Philadelphia and Atlanta were among several US cities to announce curfews Saturday (May 30) in a bid to stem violent anti-police protests breaking out across America.

A nighttime curfew was also implemented in Louisville, Kentucky as the US continues to be rocked by demonstrators angry at the death of a black man during an arrest in Minneapolis on Monday.

Live Updates
U.S. braces for a sixth night of mass protests as police become more aggressive

Live Updates
U.S. braces for a sixth night of mass protests as police become more aggressive

Live Updates
U.S. braces for a sixth night of mass protests as police become more aggressive

Fear that capital will flee Hong Kong are visible just about everywhere in the city's financial markets, yet the currency remains resistant for now.
Speculators are betting on significant depreciation with derivatives, sending a measure of bearishness to near its highest level of the year. Volume on Hong Kong dollar options soared to $3.7bn, with a third of the trades betting the pegged currency would hit or break the weak end of its trading band.
Conviction that turbulence will get worse is also evident in the swaps market, where the spread between local and US rates reached levels last seen in the 1990s.

MENAFN - Gulf Times

Speculators target Hong Kong's currency on outflow concern

Some of the protests have been peaceful, while others have been destructive. Here are the cities where protesters gathered:

California: Los Angeles, Bakersfield, Sacramento, San Jose, Oakland, San Francisco

Colorado: Denver

Georgia: Atlanta

Illinois: Chicago

Iowa: Des Moines

Indiana: Indianapolis, Fort Wayne

Kentucky: Louisville (Related to the death of Breonna Taylor)

Louisiana: New Orleans

New York: New York City

Massachusetts: Boston

Michigan: Detroit

Minnesota: Minneapolis

Nevada: Las Vegas

North Carolina: Charlotte

Ohio: Columbus, Cincinnati

Texas: Dallas, Houston

Virginia: Richmond

Washington, DC

Top members of the US administration have warned that Hong Kong no longer merits a special status when it comes trade, and the territory could be treated the same way as mainland China.

For nearly three decades, the U.S. has given Hong Kong special status — letting goods flow back and forth without tariffs and people to fly in and out with no visas. Other countries do the same. That makes Hong Kong a vital business hub, according to Fraser Howie, an independent financial analyst in Singapore.

It’s a “very unique environment, different from the mainland,” Howie said. “Hong Kong was always seen as low-tax, exciting destination, a can-do type of place.”

If Washington ditches Hong Kong’s special status, there’d be “serious implications,” the U.S. Chamber of Commerce warned.

For nearly three decades, the U.S. has given Hong Kong special status — letting goods flow back and forth without tariffs and people to fly in and out with no visas. Other countries do the same. That makes Hong Kong a vital business hub, according to Fraser Howie, an independent financial analyst in Singapore.

It’s a “very unique environment, different from the mainland,” Howie said. “Hong Kong was always seen as low-tax, exciting destination, a can-do type of place.”

If Washington ditches Hong Kong’s special status, there’d be “serious implications,” the U.S. Chamber of Commerce warned.

HONG KONG: A national security law proposed by China could imperil Hong Kong’s status as one of the world’s best places to do business.

Hong Kong police fired tear gas and water cannon to disperse thousands of people who rallied on Sunday to protest against Beijing's plan to impose a new national security law on the semi-autonomous city.

In a return of the unrest that roiled Hong Kong last year, crowds thronged the Causeway Bay shopping area in defiance of curbs imposed to contain the coronavirus. Chants of "Hong Kong independence, the only way out" echoed through the streets.

Hong Kong police fired tear gas and water cannon to disperse thousands of people who rallied on Sunday to protest against Beijing's plan to impose a new national security law on the semi-autonomous city.

In a return of the unrest that roiled Hong Kong last year, crowds thronged the Causeway Bay shopping area in defiance of curbs imposed to contain the coronavirus. Chants of "Hong Kong independence, the only way out" echoed through the streets.

Hong Kong police fired tear gas and water cannon to disperse thousands of people who rallied on Sunday to protest against Beijing's plan to impose a new national security law on the semi-autonomous city.

In a return of the unrest that roiled Hong Kong last year, crowds thronged the Causeway Bay shopping area in defiance of curbs imposed to contain the coronavirus. Chants of "Hong Kong independence, the only way out" echoed through the streets.

US Senate passes bill to delist Alibaba, Baidu and other Chinese companies from US stock exchanges

The US Senate passed a bill to delist Alibaba, Baidu and other Chinese companies from US stock exchanges, as tensions between US and China flared up once again. The bill seeking to delist Chinese companies was introduced by John Kennedy, a Republican, and Chris Van Hollen, a Democrat. Signalling bipartisan support, the Senate passed the bill unanimously. It would also require companies to certify that they’re not under the control of a foreign government. Shares of Chinese e-commerce giant Alibaba saw its US-listed shares fall more than 2% after the development.

US Senate passes bill to delist Alibaba, Baidu and other Chinese companies from US stock exchanges

The US Senate passed a bill to delist Alibaba, Baidu and other Chinese companies from US stock exchanges, as tensions between US and China flared up once again. The bill seeking to delist Chinese companies was introduced by John Kennedy, a Republican, and Chris Van Hollen, a Democrat. Signalling bipartisan support, the Senate passed the bill unanimously. It would also require companies to certify that they’re not under the control of a foreign government. Shares of Chinese e-commerce giant Alibaba saw its US-listed shares fall more than 2% after the development.

US Senate passes bill to delist Alibaba, Baidu and other Chinese companies from US stock exchanges

The US Senate passed a bill to delist Alibaba, Baidu and other Chinese companies from US stock exchanges, as tensions between US and China flared up once again. The bill seeking to delist Chinese companies was introduced by John Kennedy, a Republican, and Chris Van Hollen, a Democrat. Signalling bipartisan support, the Senate passed the bill unanimously. It would also require companies to certify that they’re not under the control of a foreign government. Shares of Chinese e-commerce giant Alibaba saw its US-listed shares fall more than 2% after the development.

Chinese Oil Imports To Rise In 2020 Despite Coronavirus

Despite the low oil demand during the COVID-19 outbreak in China, the world’s top oil importer is set to increase its crude oil imports by 2 percent in 2020

Chinese Oil Imports To Rise In 2020 Despite Coronavirus

Despite the low oil demand during the COVID-19 outbreak in China, the world’s top oil importer is set to increase its crude oil imports by 2 percent in 2020

Australian coal exporters are facing the risk of tougher restrictions selling into China as government authorities in Beijing direct state-owned power plants to purchase domestic product instead.

The move threatens to add to escalating tensions between Australia and its largest trading partner and follows new customs reforms that analysts fear could lead China to delay cargoes of Australia's most lucrative export, iron ore.

Australian coal exporters are facing the risk of tougher restrictions selling into China as government authorities in Beijing direct state-owned power plants to purchase domestic product instead.

The move threatens to add to escalating tensions between Australia and its largest trading partner and follows new customs reforms that analysts fear could lead China to delay cargoes of Australia's most lucrative export, iron ore.

Australian coal exporters are facing the risk of tougher restrictions selling into China as government authorities in Beijing direct state-owned power plants to purchase domestic product instead.

The move threatens to add to escalating tensions between Australia and its largest trading partner and follows new customs reforms that analysts fear could lead China to delay cargoes of Australia's most lucrative export, iron ore.

Unless crude oil price skyrocketing largely to compensate the hole.

On that time, S$1 may worth RM4, Usd1 may worth RM5

If Malaysia reach 0%, exchange rate may fall to lowest in history and very large outflows of funds.

As central banks around the world grapple to control the economic impact, it can be reasonably expected that more and more of them will take a dramatic change of policy course and take rates to below zero - like their peers in Europe and Japan.

There is legitimate debate about the efficacy of negative interest rates on boosting economies.

It’s not just the US, the world’s largest economy, which is moving towards this scenario.

On Tuesday, the Deputy Governor of the Bank of England also suggested that the UK may be headed toward negative interest rates.

A new global era of negative interest rates would have been unimaginable even a few months ago. But this has now changed due to the coronavirus.

Negative interest rates are coming and investors will now be looking to bolster their portfolios to ‘get ahead of the curve and build wealth.

Rate options, which gauge monetary policy forecasts, implied on Monday a 23% likelihood that the key federal funds rate will drop below zero by the end of 2020, according to BofA Securities data.

If happen, all their money may flow to Asian countries with higher interest income.

Australia, New Zealand, Canada, UK and USA maybe will reach negative interest rate bcause already near zero interest rate

At 1% interest rate maybe

If Malaysia reach negative interest rate, ringgit will go to 5~6 against usd

Australia is the most China-reliant economy in the developed world, leaving it vulnerable to blowback from Prime Minister Scott Morrison’s calls for an independent probe into the origins of the coronavirus.

Authorities in Beijing wasted little time responding. First, their ambassador warned Chinese citizens may no longer visit Down Under or choose it as the destination to educate their children. And this week, China announced an anti-dumping probe into barley exports and the suspension of meat imports from four Australian processing plants.

The big ticket items of iron ore, coal and natural gas that China needs to build and fuel its economy have so far remained unmentioned. But the barley and beef blows -- which authorities from both sides have sought to downplay -- can be interpreted as shots across the bow of Australia’s economy.

Australia is the most China-reliant economy in the developed world, leaving it vulnerable to blowback from Prime Minister Scott Morrison’s calls for an independent probe into the origins of the coronavirus.

Authorities in Beijing wasted little time responding. First, their ambassador warned Chinese citizens may no longer visit Down Under or choose it as the destination to educate their children. And this week, China announced an anti-dumping probe into barley exports and the suspension of meat imports from four Australian processing plants.

The big ticket items of iron ore, coal and natural gas that China needs to build and fuel its economy have so far remained unmentioned. But the barley and beef blows -- which authorities from both sides have sought to downplay -- can be interpreted as shots across the bow of Australia’s economy.

Australia is the most China-reliant economy in the developed world, leaving it vulnerable to blowback from Prime Minister Scott Morrison’s calls for an independent probe into the origins of the coronavirus.

Authorities in Beijing wasted little time responding. First, their ambassador warned Chinese citizens may no longer visit Down Under or choose it as the destination to educate their children. And this week, China announced an anti-dumping probe into barley exports and the suspension of meat imports from four Australian processing plants.

The big ticket items of iron ore, coal and natural gas that China needs to build and fuel its economy have so far remained unmentioned. But the barley and beef blows -- which authorities from both sides have sought to downplay -- can be interpreted as shots across the bow of Australia’s economy.

May 15, 2020 5:09 pm by James Politi and Kiran Stacey in Washington
The Trump administration has increased the pressure on Huawei by tightening export controls on the Chinese telecoms group and its suppliers, heightening tensions with Beijing that have flared during the coronavirus pandemic.

The US commerce department accused Huawei of continuing to use American technology in its semiconductor designs, despite having been subject to export controls since May 2019.

The move to close loopholes in those controls came at the end of a week in which the Trump administration prevented a government pension fund from investing in Chinese stocks and President Donald Trump suggested the US could “cut off the whole relationship” with China.

May 15, 2020 5:09 pm by James Politi and Kiran Stacey in Washington
The Trump administration has increased the pressure on Huawei by tightening export controls on the Chinese telecoms group and its suppliers, heightening tensions with Beijing that have flared during the coronavirus pandemic.

The US commerce department accused Huawei of continuing to use American technology in its semiconductor designs, despite having been subject to export controls since May 2019.

The move to close loopholes in those controls came at the end of a week in which the Trump administration prevented a government pension fund from investing in Chinese stocks and President Donald Trump suggested the US could “cut off the whole relationship” with China.

May 15, 2020 5:09 pm by James Politi and Kiran Stacey in Washington
The Trump administration has increased the pressure on Huawei by tightening export controls on the Chinese telecoms group and its suppliers, heightening tensions with Beijing that have flared during the coronavirus pandemic.

The US commerce department accused Huawei of continuing to use American technology in its semiconductor designs, despite having been subject to export controls since May 2019.

The move to close loopholes in those controls came at the end of a week in which the Trump administration prevented a government pension fund from investing in Chinese stocks and President Donald Trump suggested the US could “cut off the whole relationship” with China.

So when Trump called for the Federal Reserve to to “accept the GIFT” of negative interest rates on Tuesday, a layman might have reasonably interpreted his proposal as the cockamamie fantasy of a certified crank. But the idea that America’s central bank should set benchmark interest rates below zero — which is to say, that it should start taxing the reserves of commercial banks instead of paying interest on them — is not peculiar to Trump. In fact, many respected economists believe that the U.S. should embrace the policy, which is already in effect in Europe and Japan. Further, as of earlier this week, Wall Street investors were betting that the Fed will bring interest rates below zero by mid-2021 in order to promote recovery from the coronavirus crisis.

So when Trump called for the Federal Reserve to to “accept the GIFT” of negative interest rates on Tuesday, a layman might have reasonably interpreted his proposal as the cockamamie fantasy of a certified crank. But the idea that America’s central bank should set benchmark interest rates below zero — which is to say, that it should start taxing the reserves of commercial banks instead of paying interest on them — is not peculiar to Trump. In fact, many respected economists believe that the U.S. should embrace the policy, which is already in effect in Europe and Japan. Further, as of earlier this week, Wall Street investors were betting that the Fed will bring interest rates below zero by mid-2021 in order to promote recovery from the coronavirus crisis.

So when Trump called for the Federal Reserve to to “accept the GIFT” of negative interest rates on Tuesday, a layman might have reasonably interpreted his proposal as the cockamamie fantasy of a certified crank. But the idea that America’s central bank should set benchmark interest rates below zero — which is to say, that it should start taxing the reserves of commercial banks instead of paying interest on them — is not peculiar to Trump. In fact, many respected economists believe that the U.S. should embrace the policy, which is already in effect in Europe and Japan. Further, as of earlier this week, Wall Street investors were betting that the Fed will bring interest rates below zero by mid-2021 in order to promote recovery from the coronavirus crisis.

Official data showed that Singapore's Retail Sales dropped 13.3% on year in March (-16.8% expected, -8.4% in February), the biggest decline since 1998.
Singapore's Official Purchasing Managers Index (PMI) fell to 44.7 in April (40.0 expected) from 45.4 in March.

Meanwhile, the IHS Markit Singapore PMI plunged to 28.1 in April from 33.3 in March.

Official data showed that Singapore's Retail Sales dropped 13.3% on year in March (-16.8% expected, -8.4% in February), the biggest decline since 1998.
Singapore's Official Purchasing Managers Index (PMI) fell to 44.7 in April (40.0 expected) from 45.4 in March.

Meanwhile, the IHS Markit Singapore PMI plunged to 28.1 in April from 33.3 in March.

Official data showed that Singapore's Retail Sales dropped 13.3% on year in March (-16.8% expected, -8.4% in February), the biggest decline since 1998.
Singapore's Official Purchasing Managers Index (PMI) fell to 44.7 in April (40.0 expected) from 45.4 in March.

Meanwhile, the IHS Markit Singapore PMI plunged to 28.1 in April from 33.3 in March.

Wti crude: $23.81/barrel
Brent crude: $29.46/barrel

KUALA LUMPUR (May 5): Ageson Bhd’s share price rose as much as 25% today, after the company said it secured a RMB44.8 billion (RM27.5 billion) purchase order from a China-based company for the supply of sand over 15 years.

At 10.26am, the counter rose 2.5 sen or 15.6% to 18.5 sen, with some 124.83 million shares traded, which accounts for about 21% of its total outstanding share base of 582.11 million shares.

Earlier, the counter rose as much as four sen or 25% to a record high of 20 sen.

Yesterday, Ageson announced that its wholly-owned subsidiary Esa Pile Sdn Bhd accepted the purchase order from Guangzhou Kaishengda Industrial Co Ltd (GKI) for the supply of river and sea sand for 15 years.